This review presents the state-of-the-art research on IoT systems for optimized greenhouse environments. The data were analyzed using descriptive and statistical methods to infer relationships between the Internet of Things (IoT), emerging technologies, precision agriculture, agriculture 4.0, and improvements in commercial farming. The discussion is situated in the broader context of IoT in mitigating the adverse effects of climate change and global warming in agriculture through the optimization of critical parameters such as temperature and humidity, intelligent data acquisition, rule-based control, and resolving the barriers to the commercial adoption of IoT systems in agriculture. The recent unexpected and severe weather events have contributed to low agricultural yields and losses; this is a challenge that can be resolved through technology-mediated precision agriculture. Advances in technology have over time contributed to the development of sensors for frost prevention, remote crop monitoring, fire hazard prevention, precise control of nutrients in soilless greenhouse cultivation, power autonomy through the use of solar energy, and intelligent feeding, shading, and lighting control to improve yields and reduce operational costs. However, particular challenges abound, including the limited uptake of smart technologies in commercial agriculture, price, and accuracy of the sensors. The barriers and challenges should help guide future Research & Development projects and commercial applications.